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United States of America-China Chamber of Commerce, founded by the late Prescott S. Bush, Jr., is a not-for-profit, bi-national membership organization dedicated to developing increased U.S.-China trade and investment activities by assisting American and Chinese companies, professionals and the general public to better understand the business environment and cultural traditions relevant to successfully doing business in both countries. With its headquarters in Chicago, the heartland of America, USCCC has over 400 members, of which 90% are U.S. companies that provide the organization with over 90% of its funding. In the last quarter of century, USCCC has been instrumental in working with U.S. corporations, with an emphasis on small and medium sized companies, in staying competitive in this global market through trade and investments. Many of these companies have grown organically exponentially and created many high paying jobs in the U.S. by focusing on high value-added technologies and products. Our organization also provides assistance to U.S. companies in fighting patent and trademark infringement, complying with Foreign Corruption Practice Act, avoiding scams, managing government relationship and other essentially tasks.
Now USCCC offers document authenticaton by the Secretary of State
As part of its service to its members and the general public, USCCC provides unmatched documentation authentication, which is among the fastest and least expensive. With its indepth knowledge, extensive experience, and regular contact with the Chinese Consulate, its service is simply the best.
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United States of America-China Chamber of Commerce
[This is the first of two articles that examine the market for personal protective equipment during the pandemic. The second article will look at ways to avoid scams and handle unsafe products.]
The heart of the problem is the unprecedented shock of the pandemic, which we could not imagine and were unprepared for. The sudden surge in demand for personal protective equipment (PPE) has exceeded the supply of products that are essential but so basic and simple with low value and low demand in regular times. At the same time, there has been a sudden surge in manufacturers and middlemen not previously involved in medical supplies. All this in a segment in which there is no global coordination or oversight, and no pre-existing model to manage the supply chain in extraordinary times. Every country is competing against one another. The ultimate losers, of course, are front-line healthcare workers and the general public.
The pandemic has brought out both the best and the worst of people. Many have risked their lives to help others, while many others have used the pandemic as an opportunity for profiteering. Overnight, millions of global traders and factories have emerged to capitalize on one of the most devastating health disasters in recent human history. Many of them have neither the experience nor the contacts in trade or manufacturing, let alone in the medical-supplies field.
Greed and desperation to get essential medical supplies to those in need, has transformed the medical-goods market into the “Wild West.” The traditional trade model has been abandoned. The marketplace has become a highly unregulated “Commodity Exchange” replete with scams, fake, and poor-quality products globally, which have cast a shadow over high-quality supplies. Even the most experienced, savvy, and well-informed sourcing professionals now find themselves in uncharted waters.
For 20 years, our organization has worked with companies in international trade and investment. In the past 60 days, we have assisted U.S. companies and professionals in procuring personal protective equipment, and I am sharing with you my observations and interpretation of that market at present.
USCCC NOW PROVIDES PERSONAL PROTECTIVE EQUIPMENT PROCUREMENT ASSISTANCE
To assist its members and the general public in avoiding scams and inferior quality and at the same to make the PPEs available at reasonable price, USCCC is working with a number of trusted partners in the U.S. and China to secure reliable sources. Quantity could be as small as 100 and as large as hundreds of thousands. For instance, surgical 3 ply face masks could be about $0.50 per piece and KN95 $2.00. Please feel free to contact us at or 312-813-1318.
HAS CHINA EVER BEEN PREPARED FOR THE TRADE WAR WITH PRESIDENT TRUMP?
“There is no instance of a country having benefited from prolonged warfare.”
Siva Yam, CPA, CFA, President
Paul Nash, Ph.D., Editor
U.S.-China Chamber of Commerce
August 23, 2018
According to the Chinese zodiac, this year is the Year of the Dog or the Year of Wùxū in the Chinese sexagenary cycle. According to folk religion, this is a challenging year, and harmony is crucial to maintaining prosperity. Indeed, the year of 2018 has proven to be extraordinary, and harmony has given way to continued disputes and accusations.
November last year, President Trump became the first foreign dignitary to be hosted in Forbidden City when President Xi broke the tradition. When President Trump concluded his trip to China, he walked away with $250 billion of business deals. Many China hands commented that [President Trump] is “...so over-infatuated with his courtship, so hungry to ingratiate himself, and so eager to be bathed in acceptance that he had ended up being taken...”
Two months later, President Trump placed a 30% tariff on foreign solar panels, which China is the world leader. On the same day, he imposed a 20% tariff on washing machines for the first 1.2 million units imported during the year. In 2016, China exported $425 million washing machine to the U.S. Then in March the administration issued formal steel and aluminum tariff proclamations effective March 23, and about the same time, released its report finding China was conducting unfair trade practice under Section 301 of the Trade Act of 1974. Over 1,300 categories of Chinese imports were listed for the tariffs. The 2018 U.S.-China trade war began, and it goes beyond trade. It has expanded to other areas including national security, technology transfer, immigration, and even education.
Although officials from both countries hold talks in Washington over the dispute, it is unlikely that the trade war will end soon. On the contrary, it is escalating. President Trump’s actions were unforeseen by many China hands and probably not even by the Chinese government, even though President Trump had made numerous promises during and after the presidential campaign.
Sun Tzu once said: “There is no instance of a country having benefited from prolonged warfare.” Any prolonged trade war will not be in the best interest of the global economy because it creates uncertainties and anxieties. The trade war will be detrimental, particularly, to China’s economy and social stability.
First, China builds its country on low-cost, export-driven economy even though the country has strived to reduce its reliance on exports in recent years. Second, most if not all exports from China to the U.S. can be produced by the U.S. or other countries though U.S. consumers will end up paying for higher prices. Third, certain U.S. export to China, particularly, technology, are essential. The near bankruptcy of ZTE due to the sanction by the U.S. is an example. If U.S. computer chips are not available to China, China economy would probably be paralyzed. Fourth, China’s demonstration of its military power, technological advancement, and new wealth with an eagerness to emerge as a superpower have created unease among its neighboring countries. It will prove difficult for China to line up support to make its case. Fifth, China’s economy is supported by its exuberant property market. If the economy slows, the real estate “bubble” may burst. The consequences could be dreadful.
In summary, although it is not clear what the trade war will bring us to, both countries should avoid a prolonged trade war. Especially, it is critical that China will end the trade war diplomatically soonest. China needs to understand that President Trump is not a traditional U.S. president. He understands the power of celebrity and social media and could be unpredictable.
Please forward any comments to email@example.com or contact Siva Yam at 312-368-9030.